A company paid its property taxes on October 1 for the period October 1, year 1 to September 30, year 2. When the payment was made the company debited property taxes expense and credited cash for ₱8,000. The adjusting entry at December 31, year 1 would include which of the following: a. debit prepaid property taxes, ₱6,000. b. credit prepaid property taxes, ₱6,000. c. credit property tax expense, ₱2,000. d. debit property tax expense, ₱6,000.

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